Go Digital has muted listing
A new debutant today – Go Digital. As against the IPO price of Rs.272/share, the stock got listed on the BSE at Rs.281.10, a premium of 3%. It rose to Rs.303 and is now trading at Rs.297 levels.
The IPO had met with a muted response – it was overall subscribed 9.6x with QIBs portion at 12.56x, HNIs at 7.24x and Retail at 4.27x.
Go Digit Insurance is a 6-year-old digital full stack general insurance company, offering motor, health (fast growth post covid), travel, property and marine insurance. Being larger than digital peers Acko and Navi, it has assets under management to the tune of Rs.14,909 crore as at 31st Dec’23, enjoying 3% market share in non-life domestic insurance sector and 6% in the motor insurance sector.
Our verdict in the IPO Analysis section - On rich valuation, we do not recommend subscribing to the IPO.
23rd May 2024 at 07:24 pm